Usually producers refer to the strip, not to daily prices. Plotting the 12-month strip on the chart above will give a better view than today’s prices.
Also, realized prices for some major Permian producers are higher than Midland’s

1-2 It is only natural for the #API to show a build in crude after the massive mismatch between the API and EIA inventory estimates last week.
The problem is: the market today is about sentiment. Timing of the news of the build makes the situation worse. next pic.twitter.com/pcRQdwVHiA

2-2 A difference of more than 5mb between forecasts & actual storage makes sentiment even worse. We need a seismic shift to move oil prices higher. Predicting "explosive" growth in #shale are truly "explosive"! Have some people learned the law of unintended consequences? pic.twitter.com/MBEe94z9AJ